OAO TMK (TMKS), Russia’s largest producer of steel pipes for the oil and gas industry, expects sales to exceed $7 billion in 2012 and may consider acquisitions.
TMK may look at buying small- and medium-sized assets, deals which won’t increase its debt burden, the company’s press office said, citing remarks made by Deputy Chief Executive Officer Vladimir Shmatovich today on a conference call.
TMK’s 2011 sales rose 21 percent to $6.75 billion, it said March 16.
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